Brown's resignation follows that of Citigroup's South Asia CEO, Sanjay Nayar, who has quit the financial services major to join Kohlberg, Kravis, Roberts & Co as its Country Chief.
Three new directors including private sector lender ICICI Bank CEO Chanda Kochhar and Citigroup South Asia head Mark Robinson have joined the board of Indian School of Business (ISB).
US strikes on Iran's three main nuclear facilities have once again raised concerns that Tehran might shut down the Strait of Hormuz - one of the world's most critical chokepoints, through which a fifth of global oil and gas supply flows.
India might see better growth prospects mainly on account of expectations of significant progress on project approvals as well as the central bank maintaining a delicate balance between inflation and growth.
One sign of it was that the most discussed car at the Detroit show was not actually on display. It was Tata's $2,500 Nano small car for the Indian market, which captured the attention of US executives who have their own plans to push into India and to expand further in China.
Market ended lower for the third straight session led by IT stocks amid downgrade by Citigroup.
The Indian regulatory framework forced Citi to hibernate -- contrary to the claim that it never sleeps!
While Gupta, 60, can rightfully bask in the glory he has achieved for his bank in the subcontinent, his peers in foreign banks will have to revisit their India play, especially the local incorporation model, says Raghu Mohan.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
Markets extended gains led by financials and capital goods shares coupled with a rebound in IT shares.
'What made him different was that he was not a banker at all by temperament.' 'He was a businessman, a typical lalaji at that.' 'He had to win at any cost.'
